I had refinanced Home Equity Line of Credit Loan with a regular Mortgage Loan in 2018 and paid off Home Equilty Line of Credit loan with mortgage loan. Is the interest I had paid on that mortgage loan tax deductible for 2018 tax year? (This mortgage loan was not used to purchase or repair the house)
You'll need to sign in or create an account to connect with an expert.
not enough detail provided ; suggest using Turbo Tax step x step and the questions they ask will get you to the right answer. Need to know dates of the mortgages, size of the mortgages, etc.
Unfortunately, for 2018, only home mortgage interest to buy, build, or improve your home is deductible on your federal return. Then, it is only deductible if the total mortgages do not exceed $750,000. However, it still may be deductible for some states. Please make sure to follow the questions in the software and review your state deductions as well.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
zomboo
Level 6
Eclipse2024
Level 1
pm0009
Returning Member
Susan80
Level 3
null754
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.